Delta Corp on share option drive

DELTA Corporation Limited would next month ask its shareholders whether to implement Share Option Scheme within the company which seeks to avail 25 million shares.

In a note to shareholders on Thursday, the 65th Annual General Meeting would be convened on July 25, in Harare.

"To Resolve with or without amendments that Delta Corporation Limited Share Option Scheme - 2012 be and is hereby authorised for implementation and that the Directors can allocate up to 25 000 000 ordinary shares to this scheme" reads the special meeting announcement.

"Shareholders will be asked to consider and if deemed fit, to resolve with or without amendments that the Company authorises in advance, in terms of section 79 of the Companies Act (Chapter 24,03) the purchase by the company of its own share upon such terms and conditions and in such amounts as the directors of the company may from time to time determine and such authority hereby specifies that acquisitions shall be of ordinary shares which in aggregate in any one financial year shall not exceed 10 percent of the company’s issued ordinary share capital"

Most firms is Zimbabwe are now embarking on share ownership schemes aimed at benefiting workers as part of move to comply with the controversial indigenisation drive.

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